Purchasing 1-euro houses in Italy is possible not only for locals; foreigners are also eligible to participate in the program. Please read this article in order to be aware about some issues when buying such housing “for free”. Here is the complete manual about how to submit the application, where to look for such properties and whether the purchase entitles the buyer to obtain Italian residence permit.
1-euro homes in Italy: how does it work?
The sale of real estate for one euro is the initiative of the Italian government, which is applicable to many Italian municipalities remote from civilization.
The main goal of the program is to stop the outflow of the population, stimulate the economic development of such settlements and restore the aesthetic appearance of the buildings in the small abandoned centres.
The problem of the outflow of residents in such remote locations is so severe that some municipalities are ready to offer not only "free" houses, but also some benefits for newcomers ready to move here and live permanently.
For example, the municipality of Presicce Acquarica in Apulia is now offering new residents up to €30,000 to cover 50% of the costs associated with purchasing a home in this location. The Sardinian government also offers subsidies of up to €15,000 to people who purchase housing in the island's sparsely populated towns.
At the same time, even foreigners without Italian residency have the opportunity to join the program.
The Applicants should meet the following requirements:
Plan a restructuring and revaluation project (usually within 365 days of purchase).
Support notarial fees and taxes for the transfer of ownership.
Once the buyer has all the permits, start the work and complete reconstruction within the time decided by the municipality.
To guarantee the correct execution of the works by the buyer, the municipality asks to take out a surety policy of between €1,000.00 and €10,000.00. The policy expires at the end of the completed works, usually within 3 years.
Where to look for €1 houses?
One can find houses for one euro in the north and in the south of the Italian peninsula, so buyers have a wide choice in various locations.
The picturesque town of Pratola Peligna in the Abruzzo region offers houses for €1. Here you can enjoy picturesque landscapes, proximity to Rome and access to the ski slopes
However, most of these proposals are concentrated in the southern provincial regions of the country.
Please view the complete list of participating municipalities and their location on the map here.
Step by step instructions for buyers
1. Submit the application
The first step to participate in the program is to submit an application on the website of the chosen municipality. The applicant should also write a formal letter to the local authorities indicating the motivation for the purchase.
The town government analyses all the received applications and choose the best candidates. Please keep in mind: the population of such municipalities is aging, and the authorities tend to invite young families to settle in the towns to combat the outflow of the population.
If there are several applicants for the same house, priority will be given to those of them, who actually intend to settle in Italy.
2. Consult with lawyers and engineers
Make sure to contact local lawyers and construction professionals who are familiar with local laws and the process of reconstruction.
The professional will tell you about the existing tax exemptions or other benefits to be used when purchasing, reconstructing and maintaining the property. They will also help to estimate the budget for the project.
3. Obtain the tax number
Codice fiscal in Italy is your personal tax identity number (TIN). It is required for concluding any transactions with local authorities.
It can be obtained at local tax offices by presenting a passport. You can also apply for an identification tax code at the Italian consulate in your country.
4. Open а bank account
It is more convenient to open an account in the local bank and transfer the necessary amount for the purchase from your personal account in your country. It will be possible to pay utility bills from this account as well in the future.
An alternative way is to transfer money directly to the account of a notary or the authority responsible for the program.
5. Make a security deposit
The required amount should be transferred to the account of the local authority. The amount of the deposit depends on the decision of the local municipality and ranges from €1,000 to €10,000.
6. Conclude the property purchase contract
The document is signed and certified by the local notary. If the buyer does not speak Italian, the authorized translator and two native speakers should be present to witness the transaction.
It is important to remember that the buyer should pay all the taxes and the notary's fee before signing the contract.
Maenza, a commune in the Lazio region in central Italy, also participates in the program
7. Submit the payment
If the value of the object was estimated more than one euro in the result of the auction, the remaining amount should be paid in full on the day of concluding the transaction before the notary.
8. Register the transfer of ownership
The notary passes all the information to the relevant state bodies.
What’s the catch?
The Italian authorities are taking such measures in order to bring back life to such provinces.
The selected properties require complete restoration. Therefore, it will not be possible to realize your “Italian dream” for free. Future owners should prepare to bear significant costs for repairmens.
Moreover, this pleasure is not cheap, because most of such homes require major structural improvements.
Financial investments will be required almost immediately. According to the rules, the new owner needs to start work within a few months and pay a refundable security deposit (€1-10 thousand). This amount will serve as a guarantee of fulfillment of obligations regarding the repair of the building.
The registration of the property will cost about €3–7 thousand as well.
It is also necessary to complete the work within the period set by the municipality, usually from one to three years.
! The approximate cost for restoration of a small house is about €20,000–100,000.
As a result, the costs will be comparable to or even exceed the amount required to purchase a random property with similar characteristics.
Examples of inexpensive real estate in Italy
11 000 €
Townhouse in San Buono, Italy
55 sq.m211
Online ViewingRemote Transaction
Townhouse for sale with fireplace and vaulted ceilings on the main street of the town of San Buono. Residential condition, central water, gas and electricity supply, all necessary infrastructure is within walking distance. The sea and the sandy beaches of San Salvo are half an hour away by a good road.LayoutLiving room with kitchen and...
AB PROPERTY
18 000 €
Flat in Scalea, Italy
45 sq.m211
Online ViewingRemote Transaction
Our offer is for those who dream of slowing down the passage of time and restoring their strength. Live in silence and observe the beautiful Calabrian landscapes. The house is only after the restoration of the facade. There is an elevator. Own yard with parking spaces. The apartment is located in the house, on the fifth floor. It requires...
Scalea Realty
18 000 €
Flat in Scalea, Italy
38 sq.m211
Online ViewingRemote Transaction
The most famous resort in Italy for the Russian-speaking population is the city of Scalea. We offer to your attention for sale an apartment in the city of Scalea, located on Bergamo street in a single-storey house. There is Parking at the house. The facade of the house has been recently restored. The apartment is located on the first (ground...
Scalea Realty
18 000 €
Flat in Mormanno, Italy
50 sq.m321
The historic town of Mormanno is a treasure trove of authentic Italian lifestyle.
An EXCLUSIVE offer for history lovers is a two-bedroom apartment in the historic town of Mormanno, on LUDOVICO ROMANI street, ground floor, living area of 50 sq.m. The history here begins from the threshold of the apartment, with the preservation of historical...
Gabetti
18 000 €
Flat in Scalea, Italy
36 sq.m211
Online ViewingRemote Transaction
In the town of Scalea, far from the bustle of the city, we offer an apartment on the ground floor with a garden. The apartment was overhauled in 2010. The living area of the apartment is about 30 sq.m. Garden - about 6 sq.m. Has the following layout: living room with kitchen and access to the garden, bedroom, bathroom. Parking at the house....
Scalea Realty
19 000 €
Flat in Scalea, Italy
41 sq.m211
Remote Transaction
Scalea, Calabria region (Italy) is one of the most popular resorts on the Tyrrhenian coast.
Do you still think that you can't afford a place by the sea? You're wrong! Buying a cheap property in Italy is much more real than you could imagine. Hurry up to buy! A very good offer and a great option for everyone who is looking for an apartment by...
Gabetti
19 000 €
Apartment in Scalea, Italy
28 sq.m111
Online ViewingRemote Transaction
We offer for sale an exclusive studio apartment in the historical center of Scalea,magnificent buildings with a rich 1000-year history , the location is central and very convenient 100 meters from the historical center there is a famous tourist walking area with many cafes, restaurants, pizzerias and shops Piazza De Palma Maggiore. The distance...
L'ARCO IMMOBILIARE
19 500 €
Flat in Scalea, Italy
45 sq.m211
Remote Transaction
Scalea, Calabria region (Italy) is one of the most popular resorts on the Tyrrhenian coast.Do you still think that you can't afford to live by the sea?
You're wrong! Buying a cheap property in Italy is much more real than you could imagine. Hurry up to buy! A very favorable offer and a great option for everyone who is looking for an apartment...
Gabetti
22 000 €
Flat in Scalea, Italy
48 sq.m321
Online ViewingRemote Transaction
In the most popular tourist city of Italy, Scalea, we offer for sale an apartment in the residential complex"Centro Marina". Downtown, Lauro Street. Well-groomed, fenced territory of the park, free Parking spaces, near a large supermarket "Interspar". Fifth floor, building without elevator. The following layout: living room with kitchen access...
Anyone who misses an apartment on the Tyrrhenian Sea in Scalea at such a price will be very sorry. The apartment is located in a five-storey building, where residents live all year round, on the fourth floor. Unfurnished, the walls have already been painted. The living area of the apartment is 30 sq. meters + a terrace of 6 sq. meters. There is...
Scalea Realty
23 000 €
Townhouse in Tufillo, Italy
65 sq.m211
Online ViewingRemote Transaction
Stone house in a panoramic location of a pretty village half an hour's drive from the sea and beaches.For sale a stone, semi-detached house (townhouse) in the lovely village of Tufillo. The house is two-storeyed, extreme in the line of houses. It is located in a panoramic location from where you can admire the views of the mountains and the...
AB PROPERTY
24 000 €
Flat in Scalea, Italy
40 sq.m211
Online ViewingRemote Transaction
In the most popular tourist city of Italy, Scalea on the shores of the Tyrrhenian Sea, we offer an apartment on the second floor. The second floor is very comfortable. The following layout: a spacious living room with a kitchen with access to the terrace, a very large bedroom and a bathroom of about 5 square meters.meters. The living area of the...
Scalea Realty
24 000 €
Townhouse in Palmoli, Italy
80 sq.m421
Online ViewingRemote Transaction
Residential townhouse with fireplace and scenic views in the center of a village with good infrastructure, half an hour drive from the sea. A house for sale in a residential condition, located in the historical center of the ancient town of Palmoli. From the third floor of the house there are beautiful views of tiled roofs, picturesque hills and...
AB PROPERTY
24 000 €
Flat in Scalea, Italy
60 sq.m321
Online ViewingRemote Transaction
È tempo di comprare una casa sul Mar Tirreno a Scalea, in Italia. Vogliamo offrirti un'opzione redditizia in termini di prezzo e qualità. Il casolare si trova in un complesso residenziale chiuso "Pantano". In loco sono presenti una pizzeria e un negozio di alimentari privato. Prezzo vantaggioso per appartamento con...
Scalea Realty
25 000 €
Cafe, restaurant in Forte dei Marmi, Italy
470 sq.m130% per year
ResidenceOnline ViewingRemote TransactionCredit 3-5%Business on sale
Urgent, another offer from the Forte dei Marmi Gradole groups, a classic bundle of apartments + a restaurant or just a restaurant, / I write right away, an extremely small entrance to the start, from 25,000 euros!/for decent people, for a high income and a residence permit immediately, if desired, the restaurant also has its own wine cellar, two...
Private person
25 000 €
Flat in Scalea, Italy
50 sq.m321
Online ViewingRemote Transaction
Far from the center of Scalea, along Caravaggio Street, in the Poggio Fiorito complex, we offer a two-bedroom apartment on the second floor. The apartment has been completely renovated, new Windows. The following layout: a separate entrance, a long balcony. At the entrance there is a living room with a kitchen, two bedrooms and a bathroom. They...
Scalea Realty
25 000 €
Flat in Scalea, Italy
36 sq.m211
Online ViewingRemote Transaction
An advantageous option for price and quality. In the city along Mancini Street, in the residential complex "Juliano" we offer a one-room apartment located on the 5th floor. There is no elevator. Its own closed territory, Parking spaces. The apartment has almost 30 square meters of living space and 6 square meters of terrace. The balcony offers a...
Scalea Realty
25 000 €
House in Alessandria, Italy
65 sq.m422
Residence
Italy
OOO "Sanremo"
25 000 €
Apartment in Santa Maria del Cedro, Italy
31 sq.m321
Online ViewingRemote Transaction
In the historic center of Santa Maria del Cedro, we offer for sale a beautiful apartment of 31 m2 on the ground floor, consisting of: entrance terrace of 3.35 m2, living room with kitchen, double bedroom, bathroom and bedroom. The property is in good condition, equipped with aluminum frames and available immediately. Attached to the house is an...
L'ARCO IMMOBILIARE
25 000 €
Penthouse in Scalea, Italy
60 sq.m321
Online ViewingRemote Transaction
In the center of the city of Scalea, near the railway station, we offer for sale a spacious apartment of 50 square meters on the fifth floor. The house has no elevator. The latter is located on Pythagoras Street in the closed residential complex "Edil Blue". The apartment has a large terrace where you can spend time and meals. The following...
In addition, keep in mind that most of these offers are located in rural areas in southern Italy. Life here will not suite anyone. One needs to be prepared for the lack of infrastructure, and it is difficult to find work in such remote municipalities.
Finally, such objects are non-liquidable. It is not easy to sell a house in a remote village, even after repairs.
In this regard, the buyer takes the following risks:
It is difficult to accurately calculate the cost of repairs in advance, there is a high risk of going beyond the budget. Moreover, historically significant buildings may have restrictions on redevelopment and the use of certain materials.
After some time, the new owner may conclude that he is not ready to live in such a rural area, but it will not be easy to sell the object.
If the terms of the contract are violated (for example, repairs are not completed on time), the owner may be fined. Local authorities may withdraw the property without a refund of the security deposit.
Taxes on the purchase and maintenance of the property in Italy are charged in view of the cadastral value of the object, and not the symbolic value of €1. In addition, the government assigns categories to different types of property in order to compute the exact tax. Even a random country-house (or extension) can be a an object of cultural heritage, and taxes will be high.
The commune of Rose in the Calabria region in the southern part of the Apennine peninsula is also accepting applications from those who want to buy a house for the price of a cup of coffee
The right to obtain a residence permit
Purchasing a property does not give the right to obtain a residence permit in Italy.
In order to obtain a long-term residence permit, the applicant should demonstrate other reasons: employment, family reunification, enrollment to local schools or universities.
There is a special residence permit for entrepreneurs and self-employed professionals - lavoro autonomo.
For financially independent foreigners, there is a special residence permit - residenza elettiva. To obtain the resident status, you must demonstrate sufficient passive income to support your life in Italy, and the official place of residence in the country (owned or rented).
Please read more about different ways of immigration to Italy here.
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